According to the report, passive component is expected to usher in a price increase again in the second half of the year. By the end of the year, manufacturers of MLCCCh (layered ceramic capacitors) in other regions will raise product prices. In addition, leading manufacturers are gradually withdrawing from the consumer market, and the supply of standard MLCC will become the focus of downstream manufacturers next year. Under two major factors, MLCC and chip resistors (R-Chips) in Taiwan still have room for growth.
It is expected that the MLCC and chip resistors of Taiwanese factories will be expected to usher in a price increase again this year.
According to the market report recently, it may be that the client hopes that the volume and price can have a relatively stable trend. The leading passive component manufacturer Guojuzhengyan plans to sign a long-term contract plan with the client, adopting the model of layered ceramic capacitors (MLCC) bundled chip resistor sales, and the contract will be bound until 2020, and whether the contract is signed will affect the price increase. The price of some contractors will increase by about 25%, and those who have not signed the contract will increase by 50%.
did not deny whether it would start signing a long-term contract with the client on the 25th. Guoju said that it has indeed received inquiries from major customers about the need to sign a long-term contract, and is collecting information and evaluating the contract and developing the methods and details, but there is no specific approach yet.
The industry believes that this wave of passive components has been out of stock for more than two years. After the price soared from the end of last year to this year, the client has difficulty speaking. The long-term contract model can make the price curve smoothly and allow this wave of industry to last longer; but it is relatively unfavorable for chip resistor manufacturers with only a single product.
market has been reported that in response to the client's request, Guoju is developing a long-term contract model to change the practice of one contract in the past quarter and one contract in the past. Compared with industrial and automotive products with a longer product life cycle, it will directly sign a long-term contract with the client for supplying to 2020.
passive components giant
Guoju is the world's third largest capacitor manufacturer, and is well aware of the structural bottlenecks of the MLCC market in mainland China and its role. The company is an international manufacturing manufacturer of passive components such as laminated ceramic capacitors (MLCC), chip resistors, high-frequency antennas, electrolytic capacitors, inductors, , wire resistors, magnetic materials, etc., and is also the world's largest supplier of chip resistors.
On January 19, 2017, the company's aluminum electrolytic capacitor factory, Kaimei, announced that it will publicly acquire 45% equity of chip resistor factory Dayi at a price of 24.76 yuan per share, with a premium of 23.49%, and the total amount is 1.957 billion yuan. If the acquisition is completed, the company's chip resistor market share will be ranked first in the world.
In January 2017, the company's inductor factory Qilixin underwent a major merger and acquired its subsidiary Magnetic Materials Factory for 133 million euros in cash; and obtained 100% of the equity of Wangquan, a subsidiary of the company through share conversion. The share conversion ratio is Wangquan 1 shares and obtained 0.78 shares of Qilixin. After the merger, Wangquan will be removed from the market. In addition, Qilixin also acquired 49.9% of the equity of Xianghua Technology, Hunan by cash investment through its subsidiary.
On January 3, 2018, the company carried out another major merger and acquisition. Its inductor factory Qilixin announced the merger of inductor factory Meilei Technology and obtained 100% of Meilei's equity by issuing new shares. The share conversion base date is temporarily set on July 1, 2018. After the conversion is completed, Meilei will become a 100% subsidiary of Qilixin, and terminate the counter and the public offering will be cancelled after the share conversion base date.
Guoju products are mainly divided into four parts, including chip resistors (R-CHIP), laminated ceramic capacitors (MLCC), chip inductors and other products such as ceramic antennas and magnetic materials. 2. Business projects and product structure The proportion of product revenue in Q4 2017: MLCC 59%, chip resistance 36%, wire resistance 2%, high-frequency antenna 1%, and other 2%. In terms of product applications, 38% around computers, 23% for communication electronics, 21% for industrial electronics, 12% for consumer electronics, and 6% for automotive electronics.
Guoju production factory is located in Kaohsiung, Taiwan, China, Suzhou, Dongguan, Europe, Poland, Portugal and other regions. As of the end of 2013, the monthly production capacity of chip resistors (Chip Resistors) was about 68 billion to 70 billion, with a market share of the world; the monthly production capacity of stacked ceramic capacitors (MLCCs) was 28 billion to 30 billion.
In 2015, the capital expenditure was about 1 billion to 1.5 billion yuan, which was mainly used to develop high unit price and special specification products, such as automotive and industrial products.
In January 2018, the production capacity is: 90 billion chip resistors/month, and 40 billion MLCC/month.
Guoju MLCC has a global market share of about 13%, and chip resistance has a global market share of about 34%, making it the world's largest chip resistance manufacturer, followed by ROHM, Panasonic and KOA. Laminated ceramic capacitors are the six major players in the world, second to MURATA, TDK and TAIYU YUDEN. In terms of magnetic components, it is the fourth largest manufacturer with a market share of 8%. In terms of antenna products, it mainly uses low-temperature co-fired multi-layer ceramic (LTCC) technology to burn passive components, antennas, ICs and ceramic circuit boards in the same component to form a functional module component, which has begun mass production and shipment. Customers include mobile phones, Bluetooth headphones, WIMAX, automotive GPS and WLAN manufacturers.
In addition to the product supply chains such as smartphones, tablets, LED TVs, etc., the company produces automotive thick film chip electronics to pass the global automotive industry certification standards.
There is still a gap in domestic passive components
From the perspective of domestic passive device manufacturers' supply, the current main layout is in the low-end market, and the products are cost-effective; the mid-to-high-end market is also working hard to develop, and the technological gap with foreign manufacturers has gradually narrowed, and it has the foundation to enter the domestic brand mobile phone industry chain. The three-layer competition structure of Japan, South Korea, Taiwan and mainland China is gradually formed.
Take MLCC as an example. Its main manufacturers include American Kimi, Japanese Murata, Kyocera, Maruwa, TDK, Korean Samsung Mechanical and Electrical, Taiwan Guoju, Huaxinke, Hesuntang, Xinchang ; the famous mainland are Yuyang, Fenghua Hi-Tech, Sanhuan, and Torch Electronics. From the perspective of global market share, Murata and Samsung Electric together account for 52% of the market share.
Domestic Rufenghua Hi-Tech has made good progress recently, but it can be seen that the gap with international giants is still very obvious. For the powerful China's terminal industry, the lack of small passive components seems very passive, especially under the offensive of Guoju, it seems a little powerless.
